New Math for Health Care Reform

An article in today’s Wall Street Journal detailed some promising signs that a bill for the health care overhaul will be passed soon.

Congressional budget crunchers announced that the latest Senate health bill will cost $829 billion over the next decade, covering 94% of the non-elderly. In addition, the new bill will reduce the federal budget deficit by $81 billion.

Democrats are still divided over main elements of the new legislation, namely, whether to include a public health insurance plan and how to pay for the overhaul. So far, the bill’s funding comes from $404 billion in cuts to Medicare and two other government programs. Another $201 billion will come from a 40% excise tax on generous health insurance plans levied on insurers. Finally, the remaining funds will come from annual fees on insurers, medical device makers and pharmaceutical companies.

Click here to read the entire article: New Math Boosts Health Care Plan.

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